Stories for July 12th 2012

European Central Bank's new zero deposit rate had an instant impact as it came into force, with banks more than halving the amount of cash parked there overnight and one ECB policymaker saying he expected the move to increase banks' lending.

Brazil’s central bank cut its benchmark interest rate for the eighth straight time and signaled it will continue to lower borrowing costs, as spillover from a global economic slowdown limits inflation risks.

Tourist arrivals to the Falkland Islands are expected to increase by 14.9% in 2012, with a significant 28.8% jump in the number of leisure visitors, mainly driven by the 30th anniversary of the Falklands War.

The Argentine powerful organized labour unions, CGT is heading for a fracture from the moment two different congresses have been convened at different dates, one of them supportive of President Cristina Fernandez’ administration and the other entirely in the opposition.

Venezuela’s president Hugo Chavez running for re-election received a considerable boost for his campaign from his peer and political associate President Cristina Fernandez when it was revealed that Argentine inflation in the first half was over two digits.

The stagnation of the Argentine economy at the end of the first half of the year is “palpable” and so is tension in the money exchange market because of the restrictions on the purchase of US dollars imposed by the government of President Cristina Fernandez, according to a report from economic advisors Ecolatina from Buenos Aires.

Paraguay should not be suspended from the Organization of American States, OAS, despite the removal of President Fernando Lugo, said on Wednesday Roberta Jacobson, Assistant Secretary of State for Western Hemisphere Affairs.